Header bg
  • section background

    APOLLO Insurance raises CAD $18.5 million to launch FinShore buy-now-pay-later subsidiary

    Hero bg 2

    TORONTO, May 27, 2024 – APOLLO, a Canadian digital insurance provider and leading innovator in the emerging embedded finance sector, is pleased to announce the creation and launch of FinShore, a wholly owned buy-now-pay-later subsidiary. FinShore provides a fully embedded monthly payment option to over 100,000 Canadians insured with APOLLO.

    The financing for the new company was provided by Fair Capital Partners Inc. (“FairCap”) as lead arranger and agent and Innovation Federal Credit Union (“IFCU”) as lender. PricewaterhouseCoopers Corporate Finance Debt & Capital Advisory (“PwC CF”) acted as exclusive financial advisor to APOLLO and FinShore.

    FinShore will allow Canadians, and particularly renters, to take advantage of a buy-now-pay-later facility for their insurance premiums. It will also support APOLLO’s cohort of insurance broker partners who use the APOLLO platform to transact insurance business on behalf of their clients.

    “Establishing FinShore is an innovative step forward for APOLLO, and will do much to make the lives of Canadian renters easier,” said APOLLO CEO Jeff McCann. “In this economic climate, particularly with the rise of renting across Canada, consumers are looking for flexibility in their payment options. Thanks to our partners at FairCap, IFCU, and PwC CF, we are able to offer that to them.”

    APOLLO’s digital platform launched in 2019, and began serving Canadian consumers with fully digital insurance products. Since then, APOLLO has partnered with property management companies, proptechs, insurance brokers, and other organizations to embed insurance products into their existing workflows. For property managers, the insurance purchase experience is embedded directly into the leasing workflow. Some of APOLLO’s partners include QuadReal, InterRent, and Yardi Systems.

    “Both FairCap and IFCU are excited about this opportunity, and look forward to building a long-term relationship with APOLLO and FinShore,” said Daniel Nanson, FairCap CEO. “This venture aligns well with our mission to empower the North American lower middle market with fair, intelligent capital solutions.”

    About APOLLO Insurance

    APOLLO Insurance (“Apollo Insurance Solutions Ltd. and its subsidiaries”) is Canada’s leading online insurance provider. Our proprietary platform allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect a payment, and issue policies without human intervention.

    Originally published May 28, 2024, updated May 28, 2024

    Back to APOLLO Magazine
    Share this article

    Get Tenant Insurance in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Get a free quote

    4.7 rating

    Google Logo

    Get Tenant Insurance in less than a minute

    Get no-nonsense coverage that's the best value for your money. Purchase policies from your computer or phone, receive your documents instantly, and save when you buy online.

    Relevant articles

    marketing ideas for small business Canada

    17 Marketing Ideas to Promote Your Business

    does tenant insurance cover damage to landlord’s property

    Can a Landlord Make You Get Tenant Insurance?

    scope of tenant insurance canada

    What Do You Need for Tenant Insurance?

    Pros and Cons of Hiring a Real Estate Agent for Rentals

    Pros and Cons of Hiring a Real Estate Agent for Rentals

    section background
    section background

    Getting insured is as easy as 1 - 2 - 3

    Tell us (very little) about yourself

    Tell us (very little) about yourself

    Just tell us your address, your name, email and phone number. And that's it. We'll give you a price in less than a minute.

    Pay online easily and securely

    Pay online easily and securely

    You can choose to pay monthly or save money by paying for the entire year in one easy payment.

    Get your documents in your inbox - instantly

    Get your documents in your inbox - instantly

    As soon as you complete your purchase, you'll find your proof of insurance and policy documents waiting for you in your inbox.

    Get covered today - it couldn’t be easier

    We’ve provided more than 1,000,000 quotes to Canadians just like you. Give it a try!

    Google Logo


    4.7 rating

    1,781 reviews

    view all

    Across Canada

    Contact Us
    Apollo logo

    © 2024 APOLLO Insurance Solutions Ltd.

    111 Water Street, Unit 210, Vancouver, British Columbia, V6B 1A7

    APOLLO Insurance Agency Ltd. (o/a APOLLO Brokerage in the province of Ontario only) is a licensed retail brokerage, offering our clients with a comprehensive set of insurance solutions to meet their individual needs. APOLLO Insurance Agency Ltd. maintains necessary corporate licensing in provinces across Canada. Availability of products and service depends on licensing and product availability. The information that appears on this page is provided for information purposes only. Advertised products and prices are not guaranteed and vary based on insurance provider and/or insurance company's discretion and product availability.

    Transparency and Disclosure: APOLLO Insurance Agency's role is to provide you with exceptional service and the best insurance products that suit your needs. As a licensed retail brokerage, our compensation is based on a commission basis already built into your insurance premium and varies based on the product purchased through our platform. For a description of how APOLLO Insurance Agency is compensated and how this is calculated, please refer to our Compensation Disclosure document. For consumers in Ontario, please review the RIBO Conduct Fact Sheet and the RIBO Conduct Guidance document.